disney board approves eisners plan

LOS ANGELES (AP) - The board of directors of The Walt Disney Co. on Tuesday endorsed future growth plans presented by chief executive Michael Eisner but did not immediately offer any details.

Disney's board also added two new members to its corporate governance and nominating committee, which is considering a number of changes, including shrinking the 16-member board.

The board did not take any specific actions Tuesday on those possible changes.

"Today, we furthered our commitment to enhanced governance by expanding the capacity of our governance and nominating committee to address recent legislative and regulatory developments and ensure that Disney remains among the most progressive boards in America on governance issues," Eisner said in a statement.

Eisner had been expected to present his budget and a five-year plan for the struggling company at Tuesday's meeting in Burbank.

Disney said the board approved "specific near-term actions and longer-term growth initiatives for all divisions of the company." The company did not immediately elaborate.

Disney has been plagued by the low ratings of its third-place ABC television network and lagging attendance at its theme parks. Its stock has been trading between $15 and $16 in recent weeks, below a 52-week high of $25.17. The shares closed at $14.75 Tuesday, down 32 cents, on the New York Stock Exchange ( news - web sites). They gained 13 cents in extended trading.

The company said the board added members Judith Estrin and Monica Lozano to its governance committee and elected former U.S. Sen. George Mitchell to co-chair the committee with Stanley Gold.

Out of curiousity, Bob, short of bringing Walt himself back from the grave, who would you consider to be a GOOD choice for any of the various jobs you've complained about lately?

Who should replace Michael? Paul? Who should chair with Stanley Gold?

I've read quite a number of your posts, and you always seem to have a negative comment or opinion handy without ever offering up an alternative. And I'm starting to get the feeling that it wouldn't matter to you who was in charge or what the Company did -- you'd find something wrong with it no matter what.

So I was wondering ... who would Disney have to put in charge to make Bob O a happy guy?